PPP Loan Data — Gravel, LLC, Provo, UT
Gravel, LLC is a limited liability company (LLC) located at 25 W 400 S #202 in Provo, Utah that received a Coronavirus-related PPP loan from the SBA of $46,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Zions Bank, A Division of
Gravel, LLC in Provo, UT received a Paycheck Protection Loan of $46,900 through Zions Bank, A Division of, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in August, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Gravel, LLC's 2019 payroll expenses are estimated to be at least $225,120.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,520 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gravel, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,900
Business Information - Gravel, LLC in Provo, UT
25 W 400 S #202
Provo, UT 84601
Other Direct Selling Establishments
NAICS code 454390
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Provo
In the Provo area, 3 businesses in the "Other Direct Selling Establishments" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 6) and received an average PPP loan of $22,566 (compared to this company's $46,900).
Similar Nearby Businesses Who Received PPP Funding:
SW Marketing, LLC
Industry PPP Comparison Statistics
Nationwide, 38,556 businesses in the "Other Direct Selling Establishments" industry received a total of $1.23B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 3 employees, 50% lower than Gravel, LLC's reported 6 employees, and received an average PPP loan of $32,022, 32% lower than this company's loan of $46,900.
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Footnotes & Information
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